415 E Erie Dr · Fort Pierce North, FL 34946

$25,000

2 bd · 1.5 ba · 1,100 sqft · Manufactured · 65 Days on market

Built 1978 ↓ 17% since listing

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming 2 bedroom 1.5 bathroom manufactured home in Fort Pierce. Features laminate flooring throughout, central A/C, and an attached carport. Property also includes a storage shed and washer and dryer. Conveniently located near major roads, shopping, and local amenities. Great opportunity for affordable living or investment. The lot rent for the community is $795/month. Prospective buyers must apply for community approval through Tall Pines at: https://inspirecommunities.com/

Key facts

• Laminate flooring
• Attached carport
• Washer and dryer

Tags

• LAMINATE FLOORING
• CENTRAL A/C
• ATTACHED CARPORT
• STORAGE SHED
• WASHER AND DRYER

Property features AI

Finance

• HOA & community: Senior community

Exterior

• Parking: Covered parking; Carport (1 space)
• Utilities: Public water; Public sewer and septic tank options
• Home design: Manufactured property; Single-story; Faces east
• Construction: Manufactured construction
• Exterior features: Rectangular lot; No notable exterior features listed

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Bedroom on main level; First floor entry
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.
• Cap rate 66.6% vs local median 5.1% in Fort Pierce North — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#480 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, amenities F, employment F.
• St. Lucie (urban): math 40% / reading 48% proficiency, ranked #51 of 73 in FL (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 133 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($173 loan paydown + $1k appreciation (5.9% local appreciation)).
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $23,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 7.23% ✓
• Cap rate: 66.58%
• Cash-on-cash: 215.30%
• DSCR: 10.58
• GRM: 1.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 13.45×
• Total profit: $87,119
• Equity at exit: $15,591

10-year hold

• IRR: —
• Equity multiple: 28.67×
• Total profit: $193,708
• Equity at exit: $28,166

Cash invested: $7,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34946

• Home prices YoY: 1.7%
• Active inventory: 133
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,808 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $1,256

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 26%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1910 Juanita Ave Fort Pierce, FL	3.0	2.0	1100	$2,000	$1.82	14d	1	0.37mi
2760 Seneca Ave Fort Pierce, FL	2.0	1.0	837	$1,500	$1.79	23d	1	0.43mi
2809 Jefferson Pkwy Unit A Fort Pierce, FL	3.0	1.0	1350	$2,100	$1.56	14d	1	0.74mi
1710 N 21st St Fort Pierce, FL	3.0	1.0	968	$2,100	$2.17	14d	1	0.89mi
1601 N 17th St Fort Pierce, FL	2.0	1.0	996	$1,650	$1.66	23d	1	0.98mi
1610 N 25th St Unit 1 Fort Pierce, FL	2.0	1.0	740	$1,600	$2.16	14d	1	1.04mi
1610 N 25th St Unit 10 Fort Pierce, FL	2.0	1.0	740	$1,600	$2.16	23d	1	1.04mi
1610 N 25th St Unit 13 Fort Pierce, FL	2.0	1.0	740	$1,550	$2.09	23d	1	1.04mi
3101 Avenue T Fort Pierce, FL	2.0	2.0	1064	$1,980	$1.86	23d	1	1.10mi
1408 N 23rd St Fort Pierce, FL	3.0	1.0	1110	$1,900	$1.71	14d	1	1.12mi
1308 N 21st St Apt A Fort Pierce, FL	2.0	1.0	1200	$1,499	$1.25	23d	1	1.15mi
3002 Avenue Q Fort Pierce, FL	2.0	1.0	864	$1,900	$2.20	23d	1	1.16mi
1220 Avenue L Unit A Fort Pierce, FL	3.0	1.0	850	$1,700	$2.00	23d	1	1.22mi
1225 Avenue K Fort Pierce, FL	3.0	1.0	837	$1,700	$2.03	23d	1	1.32mi
907 N 20th St Apt B Fort Pierce, FL	3.0	1.0	980	$1,800	$1.84	23d	1	1.40mi
2804 Avenue J Fort Pierce, FL	3.0	1.0	816	$2,000	$2.45	14d	1	1.44mi

Listing history 13 events

1. 2026-06-07
   days on market $25,000 Active 65 DOM
2. 2026-06-05
   days on market $25,000 Active 62 DOM
3. 2026-06-03
   remarks 482-char remark
4. 2026-06-03
   days on market $25,000 Active 61 DOM
5. 2026-06-02
   days on market $25,000 Active 60 DOM
6. 2026-06-01
   days on market $25,000 Active 59 DOM
7. 2026-05-31
   days on market $25,000 Active 58 DOM
8. 2026-05-30
   days on market $25,000 Active 57 DOM
9. 2026-05-22
   price $25,000
10. 2026-05-09
    price $26,000
11. 2026-04-30
    price $27,000
12. 2026-04-22
    price $29,000
13. 2026-04-03
    listed $30,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,702
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$727
• Taxable income: $15,602
• Est. tax owed @ 24.0%: −$3,744
• After-tax cash flow: $11,327/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: St. Lucie
• NCES district ID: 1201770
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $44,737
• Composite: 37.28/100
• National rank: #4449
• State rank: #51 of 73 in FL

Livability — Fort Pierce North

• Score: 69/100
• State rank: #480
• US rank: #8764

Category grades

Amenities F Commute A+ Cost of living A+ Crime C+ Employment F Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce North, FL
• Population (ZIP): 6,588

Population outlook (St. Lucie County) Hauer SSP2

• Today (2025): 338,016 people
• By 2030: 355,687 · +5.2%
• By 2040: 385,521 · +14.1%
• By 2050: 406,106 · +20.1%
• By 2075: 441,054 · +30.5%
• By 2100: 436,885 · +29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 36% Hispanic / Latino 34% White 26% Two or more races 18% Native American 4% Asian 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 2% Cuban 2% Salvadoran 1%
• Common ancestry: Lithuanian 1% Slovak 1% Portuguese 1%
• Foreign-born: 25% · Canada, Dominican Republic
• Languages at home: 70% English-only · Spanish 28% Other Indo-European 1%

Political lean MEDSL · St. Lucie

• 2024 margin: Lean R (+9.1) · D 45.1% · R 54.2%
• 2008→2024 swing: -21.2pp toward R · 2008: 12.1pp · 2024: -9.1pp
• All cycles: 2024: R+9.1 2020: R+1.6 2016: R+2.5 2012: D+7.9 2008: D+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.92%
• Current HPI: 351.3324
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-16.7% since first listed

5 events — show timeline

• 2026-05-22 Price Changed $25,000 MARMLS
• 2026-05-09 Price Changed $26,000 MARMLS
• 2026-04-30 Price Changed $27,000 MARMLS
• 2026-04-22 Price Changed $29,000 MARMLS
• 2026-04-03 Listed $30,000 MARMLS